Sunday, July 29, 2007

Asian Stocks Drop to One-Month Low on U.S. Housing Concern, Japan Election

(Bloomberg) -- Asian stocks fell, extending a $2.1
trillion global rout, on speculation the world's largest economy
will slow after a report showed a slump in U.S. housing investment.

Toyota Motor Co. and James Hardie Industries NV led declines
among companies that rely on U.S. sales. Canon Inc. and Nintendo
Co. paced a drop by Japanese exporters after the yen strengthened
against the dollar, eroding the value of their overseas sales.


Read more at Bloomberg Stocks News

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